DALLAS, Tx. – Heading into this Labor Day weekend, you might want to brace yourself for the prices at the pump.
New numbers from GasBuddy show we’re looking at the most expensive Labor Day fuel prices on record, with an average of $4.03 a gallon—that’s 87 cents higher than last year, and it beats the previous record from 2012.
Trouble involving Iran and the Strait of Hormuz, along with strikes on Russian refineries, has tightened the global supply of gas and diesel. It’s not your typical supply-and-demand situation; it’s a direct result of global instability making it harder and more expensive to keep fuel moving.
The only silver lining is that the summer driving rush is cooling off, and we should see a shift to cheaper winter-blend gas later this month. But for now, if you’re hitting the road for the holiday, your best bet is to shop around. Apps like GasBuddy can help you find the best price on your route, which could save you a few bucks before you leave town.
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